Terms Used In Louisiana Revised Statutes 9:3133
- Private transfer fee: means a fee or charge required by a private transfer fee obligation and payable upon the transfer of an interest in an immovable, or payable for the right to make or accept such transfer, regardless of whether the fee or charge is a fixed amount or is determined as a percentage of the value of the immovable, the purchase price, or other consideration given for the transfer. See Louisiana Revised Statutes 9:3132
- Private transfer fee obligation: means any obligation arising under any recorded or unrecorded declaration or agreement, whether or not purporting to create a servitude, building restriction or other real right, to pay a private transfer fee to a party to the declaration or agreement, or his successors or assigns, or a third person upon a subsequent transfer of an interest in the immovable. See Louisiana Revised Statutes 9:3132
- Transfer: means the sale, donation, conveyance, assignment, inheritance, or other transfer of an ownership interest in an immovable located in this state. See Louisiana Revised Statutes 9:3132
A private transfer fee obligation does not constitute a real right and is not effective or enforceable against third persons, whether or not the declaration or agreement under which it arises is recorded.
Acts 2010, No. 938, §1, eff. July 2, 2010.